The specialist recruiter for science and technology published interim results this morning and whilst there was a modest decline in revenues – down 5% on a like for like basis – that was a far more robust set of numbers than had been posted by many of the sector peers. Pre-tax profits nudged their way slightly higher, something that was sufficient to see management propose a 2% increase in the interim dividend, too. The note adds that whilst difficult market conditions are prevailing for longer than had been expected, performance for the full year remains on track. The SThree share price was up by as much as 5% in early trade before giving back some of those gains.
The outsourced catering group Compass published a trading update today covering the third quarter. Organic revenue growth for the group came in at 10.3% in line with expectations whilst pricing was also noted as moderating as inflationary pressures retreated. The note does highlight the growing impact of currency headwinds as the Pound gains ground, something that could dent operating profits by as much as $17m for the full year, but investors have been quick to applaud the growth. The Compass Group share price traded 3.5% higher by 9am.
Insurer Beazley – one of the leading providers of cover against cybersecurity risk – has this morning issued an update relating to Friday’s CrowdStrike outage. The company has advised that from what is known at this point, the event won’t impact the combined ratio guidance which has already been published for the full year. An interim update is due on August 8th where any further developments will be reported. In early trade, shares were up by 3%.
Headlines we expect tomorrow
Breedon Group Interim Results
This time last year Revenue £742.7m, Pre-tax profit £56.5m
Unite Group Interim Results
This time last year Adjusted earnings £110.2m, Dividend 11.8p
